6/3/2011

Starbucks sealed a deal to gain more control over its growing presence in mainland China, taking 100% ownership of 250 stores in six provinces in exchange for ceding ownership of its 100 Hong Kong outlets to partner Maxim, which has owned a 30% stake in the China stores since 2002. Late last year, Starbucks set up a coffee farm and processing facility in China, and announced plans to grow to more than 1,000 stores there.

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